If you’re positively allergic to fees, Discover is probably a great bank for you. All of its banking products are almost fee-free—including its best certificates of deposit, which deliver hyper competitive annual percentage yields (APY)..
With Discover CDs, you won’t pay monthly fees and you won’t be subject to minimum deposit amounts. You’ll only be dinged for touching your money before your account matures. Here’s everything you need to know about earning interest with Discover CDs.
All rates and fees are current as of July 17, 2025, and are subject to change.
Discover Bank CD rates and products
Discover Bank has standard CDs, each with various terms designed for various financial situations. In addition to standard CDs, there are individual retirement account (IRA) CDs, which are held in retirement accounts.
Standard CDs
Discover offers standard CDs with terms ranging from three months to 10 years.
Discover Bank standard CD rates
| Term length | APY |
|---|---|
| 3 months | 2.00% |
| 6 months | 3.50% |
| 9 months | 3.50% |
| 12 months | 4.00% |
| 18 months | 3.80% |
| 24 months | 3.60% |
| 30 months | 3.50% |
| 3 years | 3.60% |
| 4 years | 3.60% |
| 5 years | 3.60% |
| 7 years | 3.50% |
| 10 years | 3.50% |
| 3 months | |
|---|---|
| APY | 2.00% |
| 6 months | |
| APY | 3.50% |
| 9 months | |
| APY | 3.50% |
| 12 months | |
| APY | 4.00% |
| 18 months | |
| APY | 3.80% |
| 24 months | |
| APY | 3.60% |
| 30 months | |
| APY | 3.50% |
| 3 years | |
| APY | 3.60% |
| 4 years | |
| APY | 3.60% |
| 5 years | |
| APY | 3.60% |
| 7 years | |
| APY | 3.50% |
| 10 years | |
| APY | 3.50% |
Bank details checked July 17, 2025
IRA CDs
IRA CDs are a relatively simple way to grow your retirement account. Because you’re presumably trying to avoid touching that money anyway, a CD can be a fitting low-risk investment.
Discover offers both traditional and Roth IRA CDs. Here’s the difference:
- Opening a traditional IRA CD lets you fund your account pre-tax. A certain amount of your contributions will be tax deductible. Your funds will be taxed when you withdraw the money.
- Opening a Roth IRA means you’ll pay taxes upfront but you can withdraw the money tax free later.
Upon maturity, you can choose to renew your IRA, transfer the funds to another IRA, or withdraw the money. Just note that you’ll need to wait until you’re at least 59½ to remove the money from an IRA without a 10% penalty from the IRS.
Discover Bank IRA CD rates
| Term length | APY |
|---|---|
| 3 months | 2.00% |
| 6 months | 4.20% |
| 9 months | 3.50% |
| 12 months | 4.00% |
| 18 months | 3.80% |
| 24 months | 3.80% |
| 30 months | 3.60% |
| 3 years | 3.60% |
| 4 years | 3.60% |
| 5 years | 3.75% |
| 7 years | 3.50% |
| 10 years | 3.50% |
| 3 months | |
|---|---|
| APY | 2.00% |
| 6 months | |
| APY | 4.20% |
| 9 months | |
| APY | 3.50% |
| 12 months | |
| APY | 4.00% |
| 18 months | |
| APY | 3.80% |
| 24 months | |
| APY | 3.80% |
| 30 months | |
| APY | 3.60% |
| 3 years | |
| APY | 3.60% |
| 4 years | |
| APY | 3.60% |
| 5 years | |
| APY | 3.75% |
| 7 years | |
| APY | 3.50% |
| 10 years | |
| APY | 3.50% |
Bank details checked July 17, 2025
Compare Discover Bank to top competitors
While Discover Bank’s CD rates are lucrative, they’re not unprecedented. Here’s a look at rates offered by some of its competition so you can evaluate if a Discover CD is the right savings vehicle for your needs.
 Discover Bank |  Capital One |  Northern Bank Direct |
|---|---|---|
| 6 months | 6 months | 6 months |
| 3.50% | 3.80% | 4.25% |
| 9 months | 9 months | 9 months |
| 3.50% | 3.80% | 4.35% |
| 12 months | 12 months | 12 months |
| 4.00% | 4.00% | 4.30% |
| 18 months | 18 months | 18 months |
| 3.80% | 3.70% | 3.50% |
| 24 months | 24 months | 24 months |
| 3.60% | 3.50% | 3.50% |
| Learn more | Learn more | Learn more |
| View offer at Discover | View offer at Bankrate | View offer at Northern Bank Direct |
It’s worth noting that Capital One acquired Discover in May 2025, though separate products are still available under each brand as of this writing.
Bank details checked July 17, 2025
Learn more about Discover Bank
Discover is known for its customer-friendly and largely fee-free policies. Perhaps most noted for its credit cards, it fielded its first charge in 1985 at an Atlanta Sears. As an initiative to enter the world of personal finance, Sears absorbed a financial institution named Greenwood Trust to issue Discover’s credit card. It wasn’t until the year 2000 that the institution officially became Discover Bank.
It’s since grown to offer checking accounts, money market accounts (MMAs), savings accounts, home equity loans, mortgage refis, student loans, personal loans, and, of course, CDs.
Frequently asked questions
Is there a minimum deposit required to open a Discover CD?
Discover does not enforce a minimum deposit to open a CD.
Can I make partial withdrawals from a Discover CD?
You can only make a partial withdrawal from a Discover CD during the grace period, be it nine days after opening your account or nine days after your CD matures and is renewed.
Are Discover CDs FDIC insured?
Discover CDs are FDIC insured up to the standard $250,000 limit.
What are the benefits of choosing a Discover CD over a savings account?
One possible benefit of choosing Discover CDs over a high-yield savings account is the potential to earn higher APY. Discover currently offers competitive returns for its savings account, but some CDs may provide considerably more. Also, CDs guarantee a set APY for the full term, whereas the APY on a savings account can change at the financial institution’s discretion.
Can I add funds to my Discover CD after opening it?
You can add funds to your CD at the time of application, or you can choose to fund it up to 45 days later. You cannot add funds whenever you like during the life of your CD.